Macro: The International Economy

Question 1

What is globalisation defined in terms of

Answer 1

Globalisation is defined in terms of the free movement of goods and services, factors of production, financial flows and economies becoming increasingly interdependent

Question 2

What are some valuables should you consider when measuring globalisation

Answer 2

Variables to consider when measuring globalisation include:

• Difference between GNP and GDP of a country.
• Remittances as a % of GDP
• Number of multinational corporations in foreign countries